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You may have to pay tax on Social Security benefits

By |2019-07-02T14:30:54+00:00July 2nd, 2019|Latest News|

During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that some of the payments may be taxed. If you’re getting close to retirement age, you may be wondering if your

If your kids are off to day camp, you may be eligible for a tax break

By |2019-06-26T14:52:56+00:00June 26th, 2019|Latest News|

Now that most schools are out for the summer, you might be sending your children to day camp. It’s often a significant expense. The good news: You might be eligible for a tax break for the cost. The value of a credit Day camp is a qualified expense under the child and dependent care credit,

Grading the performance of your company’s retirement plan

By |2019-06-26T14:41:07+00:00June 26th, 2019|Latest News|

Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their golden years? Or is it more of a C student who could really use some extra help after school? Benchmarking can tell you. Mind the basics More than likely, you already use certain criteria to

Put a number on your midyear performance with the right KPIs

By |2019-06-26T14:38:27+00:00June 26th, 2019|Latest News|

We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and calculate the right key performance indicators (KPIs). 4

Is an HSA right for you?

By |2019-06-18T19:16:53+00:00June 18th, 2019|Latest News|

To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical expenses on a tax advantaged basis. The basics With HSAs, you take more responsibility for your health care costs. If you’re covered by a qualified

Donating your vehicle to charity may not be a taxwise decision

By |2019-06-13T19:42:08+00:00June 13th, 2019|Latest News|

You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. But donating a vehicle may not result in a big tax deduction — or any deduction at all. Trade in, sell or donate? Let’s say you’re buying a new car and

Could you unearth hidden profits in your company?

By |2019-06-13T19:39:47+00:00June 13th, 2019|Latest News|

Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may not be the best way for your business — or any company — to boost profits. Bottom-line potential may lie undiscovered in your existing operations. How can you find these “hidden” profits? Dig

Thinking about moving to another state in retirement? Don’t forget about taxes

By |2019-06-05T16:21:54+00:00June 5th, 2019|Latest News|

When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax purposes may be more complicated than it initially appears to be. Identify all applicable taxes It

Your succession plan may benefit from a separation of business and real estate

By |2019-06-05T16:18:52+00:00June 5th, 2019|Latest News|

Like most businesses, yours probably has a variety of physical assets, such as production equipment, office furnishings and a plethora of technological devices. But the largest physical asset in your portfolio may be your real estate holdings — that is, the building and the land it sits on. Under such circumstances, many business owners choose

The chances of IRS audit are down but you should still be prepared

By |2019-05-29T14:11:16+00:00May 29th, 2019|Latest News|

The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation if yours is one of them. Latest statistics Overall, just